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June 11, 2015

Meetings Mean Business: Measurable Data on Meetings and Events Will Be Mandatory




by Claire Repass, communications manager at Social Tables

Meetings are growing, and hotels are the primary beneficiaries of this growth. In order to better understand the impact of said growth, MMB partnered with hospitality technology company Social Tables on a report that highlights the “Nine Ways Meetings Will Impact Hotels.” This free trend report was published with insight from the Convention Industry Council, Marriott Hotels, Accor and American Express Global Business Travel.

Nine trends were tackled in all, but this post examines Trend #2: Measurable Data on Meetings and Events Will Be Mandatory.

Interview with Corbin Ball, CSP, CMP, DES, MS, Episode 2

The financial impact of the meetings and events industry on hotels is enormous: According to a 2013 report by Frost and Sullivan, hotels generated $103 billion in revenue from 5 million events with 512 million attendees. A mere two years later, 2015 is expected to yield even larger financial opportunities for hotels, as budgets for meeting and events will rise.

Why? While the growth of the worldwide economy is certainly a propellant, the enhanced ability to measure the ROI of meetings and events is where the true growth will stem from.

Read the full article here and download the full report here.

 


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